COLUMBUS, Ohio (WCMH) — Cryptocurrencies experienced a volatile year in 2025. Bitcoin hit its all-time peak price in October, only to fall by 30 percent by the start of 2026. However, as more Americans continue to invest in digital currencies, state legislators are focused on ensuring the security of Ohio residents’ digital assets. They are also exploring opportunities for the state to invest in this area.
Rep. Thad Claggett (R-Licking County), head of the House Technology and Innovation Committee, mentioned that the adoption of cryptocurrency has been a “major change,” but he believes the state is capable of keeping pace.
I’m not particularly worried about cryptocurrencies,” stated Claggett. “If we regulate them properly and ensure that the state and the country’s authority support those regulations, I believe we’ll be okay.
Claggett also thinks Ohio law doesn’t require major changes to ensure digital assets are secure and used appropriately.
What we’re aiming to ensure is that we don’t enable bad actors to utilize these platforms, whether it’s for currency exchange or anything else, and then escape consequences for their crimes,” said Claggett. “Our laws are adequate for many situations; it’s simply about how they are applied.
Approximately 1.3 million residents of Ohio hold some form of cryptocurrency, as stated by Rep. Steve Demetriou (R-Bainbridge Twp). In the previous year, Demetriou proposed multiple pieces of legislation aimed at overseeing and promoting the cryptocurrency sector in Ohio.
In June, the Ohio House approved Demetriou’s Blockchain Fundamentals Act, which simplifies the process for Ohio residents to mine and use digital assets by allowing businesses to take cryptocurrency as payment and restricting how much local areas can control crypto mining data centers.
Demetriou stated during a session in the House that by enacting the Blockchain Fundamentals Act, Ohio would demonstrate its readiness to adopt the future of its economy.
Democrats were divided regarding the bill, with the majority voting against it. Rep. Ismail Mohamad (D-Columbus), the ranking member on the Technology and Innovation Committee, encouraged his fellow Democrats to support the Blockchain Basics Act, while recognizing the reservations within his party.
Permitting mining operations in residential zones creates worries. Mining consumes large amounts of electricity and water, which can affect rural regions that depend on well water,” stated Mohamad. “The machinery produces heat, necessitating extensive cooling using water and air conditioning, which affects the local environment.
The legislation will now be reviewed by the Ohio Senate, where Democrats aim to resolve some of their issues.
Demetriou also proposed a bill aimed at establishing a Strategic Cryptocurrency Reserve for the state. If approved, this legislation would enable the state treasurer to allocate a specific portion of state funds into cryptocurrency. The bill would include measures designed to prevent misuse and poor management of these investments, and the state would be prohibited from investing in speculative “meme coins.”
Additional laws proposed by Demetriou would amend state law to protect unclaimed digital assets using the same framework the state currently employs for conventional unclaimed funds. Co-sponsor Rep. Josh Williams (R-Sylvania Twp) stated that this type of legislation would be advantageous as more Americans begin to use cryptocurrency as a standard investment method.
Many of these accounts become inactive over time,” said Williams in October. “People forget their passcode even though the wallet owner still has access to it, and the person who lost their password or something else ends up with an asset that keeps growing over time. We aim to establish a system for unclaimed funds similar to any other asset.
Both that legislation and the Ohio Strategic Cryptocurrency Reserve Act are still under review by the Technology and Innovation Committee, pending approval for full House consideration.
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